Accounts Payable Processing Clause Samples

The Accounts Payable Processing clause outlines the procedures and responsibilities for managing and settling amounts owed by one party to another under the agreement. It typically details the process for submitting, reviewing, and approving invoices, as well as the timelines and methods for making payments. By establishing clear steps and expectations for handling payables, this clause helps ensure timely payments, reduces disputes over outstanding amounts, and promotes efficient financial management between the parties.
Accounts Payable Processing a. Review all invoices sent to Charter Impact for proper approval and coding i. Any discrepancies will be reported to the Client within three business days of CI becoming aware of the discrepancy. CI is not responsible for communicating any information to Client vendors. The fees described in Section 3.01 are based upon Client cooperation and compliance with CI processes and procedures. Time incurred to process payments outside of the pre-established timeline is subject to additional fees as described in Section 8.04 above. b. Enter invoices for each reporting entity, process check payments, and send checks directly to vendors to reduce turn-around time c. Provide weekly check registers, accounts payable aging reports, vendor payment history or other ad hoc reports on a recurring or as needed basis d. On an emergency basis, same day payments can be processed in addition to the weekly cycle (*additional processing fees apply). e. Complete 1099s for all independent contractors. i. It is the Client’s sole responsibility to obtain and submit to CI the IRS Form W-9 for all vendors. Client acknowledges that CI is not responsible for processing of Form 1099 for any vendor for which CI has not received a Form W-9 or for any vendor that has not been paid through CI’s vendor payment process.
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Accounts Payable Processing. The processing and payment of accounts payable.
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Accounts Payable Processing. Entry and payment of ERA’s invoices and vouchers, initial matching of vouchers to PO receipts utilizing SEACOR’s Automated Vouchering System, maintenance of A/P sub-ledger, processing of special requests (i.e., rush checks, invoice maintenance, check requisitions, wire transfers, expense report processing, 1099 preparation, IRS filing, etc.), and processing of A/P reporting as done by SEACOR as of the date the Agreement is executed. The administration/reconciliation of ERA interface files from any card providers and payment to providers. This Service includes continuation of such Services commencing within 90 days after the date the Agreement is executed, in each case to the extent the bank account from which any such payments are to be made change (provided they stay within the same banking institution(s)). One check/ACH batch to be performed on a weekly basis for each business unit: • ERA • ERA Med; and • ERA Leasing Vendor Master Processing of vendor master additions/modifications and purchased item additions/modifications. Policy Updating of delegation of authority (DOA) levels in Oracle. Month end closing of Oracle A/P module. Services to be performed by existing dedicated A/P pool personnel. Certain latitude regarding the date the A/P module is closed, but no later than the 7th calendar day of each month. 1099 Reporting Preparation and distribution of 1099s to vendors and suppliers for disbursements made by SEACOR’s AP Shared Services. Preparation and electronically filing 1099 reporting required by the Internal Revenue Service. Schedules As set forth in: • AP Shared Services Agreement • AP Shared Services Disbursement Schedule Excluded: a) Requisitioning and receiving of purchases b) Any policy related decisions such as approval limits for employees and payment terms c) Booking of month end manual A/P accruals Cost $20,000 per month. Duration 12 months, (ERA agrees to provide SEACOR with 60 days’ notice of termination of service). Contacts SEACOR: ▇▇▇▇ ▇▇▇▇▇▇▇ ERA: ▇▇▇▇ ▇▇▇▇ ID # Description of Service Cost/Duration
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Accounts Payable Processing. Upon receipt of the reimbursement request from a Supervising Attorney/Program Director, the Accounting Department shall process and reimburse requests to the employee in a timely manner, period not to exceed 10 working days.
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Accounts Payable Processing. Payroll Administration Processing;
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Accounts Payable Processing. The Accounts Payable delivery organization is aligned across six (6) delivery centers located in Endicott, New York; Bangalore, India; Budapest, Hungary; Buenos Aires, Argentina; Shanghai, China; and Dalian, China.
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Accounts Payable Processing. FULL DESCRIPTION OF THE SERVICE: • Accounts payable processing.
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Accounts Payable Processing. The processing and payment of accounts payable for the Plan.
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Related to Accounts Payable Processing

  • Accounts Receivable and Accounts Payable (a) All Accounts Receivable reflected on the Financial Information, and to be in existence on the Closing Date, represent sales actually made or leases entered into in the ordinary course of business or valid claims as to which substantial performance has been rendered. Except as set forth in the Disclosure Schedule or to the extent reserved against, no material counterclaims or offsetting claims with respect to the Accounts Receivable are pending or, to the knowledge of the Seller, threatened. The listing of Accounts Receivable attached to the Disclosure Schedule is true and correct (including the aging thereon) as of the date of preparation and no material change has occurred since the date of preparation, except in the ordinary course of business. All such Accounts Receivable are collectible in the ordinary course of business except to the extent of reserves therefor as of the Closing Date. For purposes of determining collectability, cash received from account debtors without reference to specific invoice shall be applied to the oldest outstanding invoice to such account debtor, unless a bona fide dispute exists with respect to such invoice. (b) The accounts payable of each Company reflected on the Financial Information and to be in existence on the Closing Date arose, or will arise, from bona fide transactions in the ordinary course of business, and all such accounts payable either have been paid, are not yet due and payable under the applicable Company's payment policies and procedures or are being contested by the applicable Company in good faith. The listing of accounts payable attached to the Disclosure Schedule is true and correct as of the date of preparation and no material change has occurred since that date, except in the ordinary course of business.

  • Accounts Payable To the extent not apportioned at Closing, any indebtedness, accounts payable, liabilities or obligations of any kind or nature related to Seller or the Property for the periods prior to and including the Closing Date shall be retained by Seller and promptly allocated to Seller and evidence thereof shall be provided to Buyer, and Buyer shall not be or become liable therefor, except as expressly assumed by Buyer pursuant to this Contract, and invoices received in the ordinary course of business prior to Closing shall be allocated to Seller at Closing.

  • Accounts Receivable; Accounts Payable (a) All accounts receivable of the Acquired Companies and their Subsidiaries, whether reflected on the Company Balance Sheet or subsequently created, are valid receivables that have arisen from bona fide transactions in the ordinary course of business consistent with past practice. All such accounts receivable are good and collectible (and subject to no setoffs or counterclaims) at the aggregate recorded amounts thereof, net of any applicable reserves for doubtful accounts reflected on the Company Balance Sheet as adjusted for operations and transactions through the Closing Date in accordance with past custom and practice of the Acquired Companies; provided, however, that nothing in the foregoing shall be construed as a guarantee of collectability. Each of the Acquired Companies and their Subsidiaries have good and marketable title to their respective accounts receivable, free and clear of all Liens, except for Permitted Liens. Since the Balance Sheet Date, there have not been any write-offs as uncollectible of any notes or accounts receivable of any of the Acquired Companies or any of their Subsidiaries, except for write-offs as uncollectible of doubtful accounts reflected on the Company Balance Sheet as adjusted for operations and transactions through the Closing Date in accordance with past custom and practice of the Acquired Companies. (b) All accounts payable and notes payable of the Acquired Companies and their Subsidiaries, whether reflected on the Company Balance Sheet or subsequently created, are valid payables that have arisen from bona fide transactions in the ordinary course of business consistent with past practice. Since the Balance Sheet Date, the Acquired Companies and their Subsidiaries have paid their accounts payable in the ordinary course of their business and in a manner which is consistent with past practices.

  • Accounts Receivable and Payable The accounts receivable reflected on the Financial Statements arose in the ordinary course of business and, except as reserved against on the Financial Statements, are collectible in the ordinary course of business and consistent with past practices, free of any claims, rights or defenses of any account debtor. No accounts payable of the Company are over forty-five (45) days old.

  • Accounts Receivables Each existing Account constitutes, and each hereafter arising Account will, when such Account arises, constitute, the legally valid and binding obligation of the Account Debtor, except where the failure to do so could not reasonably be expected, individually or in the aggregate, to materially adversely affect the value or collectability of the Accounts included in the Collateral, taken as a whole. No Account Debtor has any defense, set-off, claim or counterclaim against any Grantor that can be asserted against the Administrative Agent, whether in any proceeding to enforce the Administrative Agent’s rights in the Accounts included in the Collateral, or otherwise, except for defenses, setoffs, claims or counterclaims that could not reasonably be expected, individually or in the aggregate, to materially adversely affect the value or collectability of the Accounts included in the Collateral, taken as a whole. None of the Grantors’ accounts receivables are, nor will any hereafter arising account receivable be, evidenced by a promissory note or other Instrument (other than a check) that has not been pledged to the Administrative Agent in accordance with the terms hereof.